How Did India’s Exports Surpass Global Growth to Hit a Record High in FY25?

New Delhi, June 24 (NationPress) Finance Minister Nirmala Sitharaman commended the determination of Indian exporters who have successfully managed to "swim against the current" by achieving a remarkable turnover of $825 billion in total exports, even amidst a global economic downturn.

"India's total exports have soared to a historic high of $825 billion, marking a 6 percent increase over the previous year and a significant rise of $466 billion since 2013-14. In contrast, global exports only experienced a 4 percent growth. Indian exporters accelerated their growth to surpass 6.3 percent," she stated during her speech at the Exim Bank Trade Conclave 2025.

She also noted that in recent years, global trade and economic growth have faced challenges. The WTO, IMF, and World Bank have reported a lack of recovery in global growth. Despite these hurdles, Indian exporters have demonstrated remarkable resilience and achieved growth against the backdrop of declining global exports, as emphasized by the Finance Minister.

She acknowledged the exporters' efforts in delivering technologically advanced products, which were not previously exported, and their success in exploring new markets, especially as consumption declines in various countries, including those in Europe.

Sitharaman emphasized, despite recession-like conditions in Europe, "our exporters have ingeniously redirected their efforts to discover new markets."

"India is no longer just exporting bulk commodities; we are also delivering well-engineered, high-quality products," she highlighted.

Regarding ongoing negotiations for free trade agreements, Sitharaman mentioned that these agreements are expected to transform the future landscape of the nation's exports.

"Intensive trade discussions are in progress with the US and the European Union and should reach a conclusion soon. There is a strong focus on finalizing more free trade agreements," she stated.

She assured exporters of the unwavering support from the Indian government.

In this context, she outlined five significant measures implemented by the government to enhance exports, including the improvement of transport and logistics infrastructure, targeted assistance for MSMEs, and technological support offered to research institutions like IITs and IIMs.

Additionally, the government launched the International Trade Finance Services platform at GIFT City and introduced Production Linked Incentive (PLI) schemes, leading to a notable increase in the production of electronic products, including smartphones.

The Finance Minister also addressed global criticisms regarding India's import tariffs by pointing out that seven tariff rates were eliminated in this year's budget.